Lagarde speech: ECB will cut rates soon, barring any major surprises
Source Fxstreet
In an interview with CNBC on Tuesday, European Central Bank (ECB) President Christine Lagarde said that the ECB will cut rates soon, barring any major surprises, per Reuters.
"Subject to no development of additional shock, it will be time to moderate restrictive monetary policy in reasonably short order," Lagarde added and said that they are observing a disinflationary process that is moving according to the expectations.
She further noted that geopolitical events' impact on commodity prices are not very significant so far.
Market reaction
EUR/USD came under modest bearish pressure with the immediate reaction. At the time of press, the par was virtually unchanged on the day at 1.0627.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike betsGold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
Here is what you need to know on Wednesday, June 3:
Bitcoin drops below $65K amid reinforced bear market signalsBitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
Bitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
